November 7, 2007. Shanghai campus - The vast opportunities and complex challenges of entrepreneurship in China was the key topic addressed at CEIBS today during the International Roundtable on Entrepreneurship and Innovation. The half-day forum brought together five leading experts in the field of entrepreneurship for an intensive discussion of the growth and development of entrepreneurship in China and worldwide.

CEIBS Vice President and Co-Dean Zhang Weijiong is delivering welcome speech

Keynote speaker Cai Dabiao (CEIBS EMBA alumnus) provided a lively start to the forum. As chairman of the board for Kungfu Catering Management Co., the nation’s most successful Chinese fast-food restaurant chain, Mr. Cai provided insight into the difficulties of entering the highly competitive restaurant field. In his speech entitled “Where There’s a Will, There’s a Kungfu,” Mr. Cai shared lessons learned during the process of launching and expanding Kungfu. He first stressed the importance of developing the right business model, implementing that model, and strategizing for growth ? an evolution that requires “transforming” the employee team. Next, Mr. Cai stressed the importance of “customer orientation,” telling that he changed the name of his company after market research showed the original name to be less than ideal. Finally, he said successful entrepreneurs need to be “steel willed,” commenting that many people told him it would be impossible to meet his goal of standardizing the cooking and serving of Chinese food. 

Mr. Cai concluded by sharing two trade tips with potential entrepreneurs. First, he advised start-ups to “be willing to learn from everything and everybody -- Lots of ideas come from unexpected sources.” As an example, he explained that Kungfu Catering adopted some of its food preparation techniques by chance, by observing food vendors in Tokyo. Second, he recommended adopting a life philosophy focused on “doing something meaningful” rather than simply making money.

Entering the speaker’s podium next was CEIBS EMBA alumnus Song Wenming, general manager of the Anhui Yide Human Resources Management Co. and winner of the 2006 CCTV “Win in China” competition to identify the best entrepreneurial model. Mr. Song began by explaining the dramatic change that has taken place recently within China concerning the image of entrepreneurs. While entrepreneurship was regarded as a “last resort” method of making a living just one generation ago, today the situation has changed. “Nowadays, society treats entrepreneurs with respect and support. In fact, most people think that being an entrepreneur is an ideal career - better than working as a manager in a large company,” he said. “Now entrepreneurs are considered as celebrities -- the image is totally different from the past.”

This newly positive image is also triggering interest in Chinese start-ups among venture capitalists, Song says. “Many venture capitalists are investing in China and this is just the start. We are still in the stage of infancy in this business,” says Mr. Song.

Turning to the launch of his business, Mr. Song explained that he founded the company in order to narrow the “huge gap” between Chinese university graduates seeking employment and HR directors seeking qualified employees. He then shared some of the “painful experiences” in establishing the business, describing the frustrations of completing the government approval process in a new field. “Some say investing in a ‘blue ocean’ industry is good, but you may find that the area you want to invest in does not exist in the eyes of the government. In that case, it is very difficult to complete all the procedures,” Mr. Song explained. He added that government approval processes have improved since he launched his company.

Finally, Mr. Song spoke of the power of media in helping to raise the profile of his company. Since winning the CCTV entrepreneurship contest “Win in China,” his resulting fame has lead to new business opportunities. Finally, he urged would-be entrepreneurs not to allow others to discourage them from pursuing a business idea. He expressed hope that in the near future, the China business environment will become more welcoming for those seeking to start innovative business ventures.

The forum next featured a signing ceremony for the launch of Global Entrepreneurship Week in China, overseen by CEIBS President Zhu Xiaoming and Professor Yan Junqi, Vice Chairman of CAPD Central Committee and Chair of the Shanghai Technology Entrepreneurship Foundation for University Graduates. Signatories were Mr. Chen Kehong, Deputy Director of Shanghai Municipality’s Science and Technology Commission, and Mr. Jonathan Ortmans, President of Global Entrepreneurship Week.

The final session of the roundtable featured a panel of visiting entrepreneurship experts who shared insights from the U.K. and U.S. Mr. Ian Robertson, Chief Executive of National Council for Graduate Entrepreneurship (U.K.) discussed the significance, forms and communication of entrepreneurship education. Charles Wessner, Director of Technology, Innovation and Entrepreneurship at the National Academy of Science (U.S.) next addressed how government and non-government institutions collaborate to promote social innovation and entrepreneurship. Finally, Mr. Ortmans, who is also a senior fellow at the Kauffman Foundation, spoke on the role of foundations in supporting innovation and entrepreneurship.